Personal Tax Deduction – Accounting for Moving Expenses

The IRS has two basic rules when it comes to deducting moving expenses. The distance test requires your new home to be at least 50 miles farther away from your work location than your old home. The time test requires you to have had 39 weeks of full-time employment in the 12 months following the move. If you don’t meet the time test requirement after believing you would, you can complete Form 1040X to amend your tax return.